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Money Laundering: Vigilance at all times
Simrun Garcha discusses the implications of Credit Agricole Corporation and Investment Bank v Papadimitriou [2015] ‘The court accepted the argument that “the arrangement could not have any commercial purpose other than money laundering” and the complex structure involved would have caused a reasonable bank to become suspicious of improper motive.’ The Privy Council’s recent decision …
Cases Referenced
Cases in bold have further reading - click to view related articles.
- Barclays Bank Plc v O'Brien [1993] UKHL 6
- Credit Agricole Corporation and Investment Bank v Papadimitriou [2015] UKPC 13; [2016] WTLR 109
- Sinclair Investments (UK) Ltd v Versailles Trade Finance Ltd [2011] WTLR 839; [2011] EWCA Civ 347; [2011] WTLR 1043